Equal1 receives multi-million euro venture capital investment from btov Industrial Technologies, Atlantic Bridge
“Equal1 has a trajectory to create massively scalable quantum solutions for real-world applications without the need for an exotic new technology platform – by leveraging existing semiconductor foundry processes to deliver quantum computing solutions that make artificial intelligence (AI) more efficient and
FREMONT, California and DUBLIN (PRWEB)
05 October 2021
Equal1 Laboratories (Equal1), the silicon-based quantum computing company, today announced that btov Industrial Technologies has joined Atlantic Bridge and other Equal1 investors in a multi-million euro funding round. The funding, which will accelerate the introduction of the world’s most compact and economical quantum computers, brings the initial capital invested in Equal1 to more than 10 million euros.
The company also announced the appointment of Dr Christian Reitberger, partner at btov, to the board of directors of Equal1. Reitberger brings to Equal1 quantum experience in cutting-edge technologies and a passion for technologies that have the potential to improve the state of the world in lasting and meaningful ways.
“We are delighted to be a part of this journey with the impressive Equal1 team,” says Reitberger. “Equal1 has a trajectory to create massively scalable quantum solutions for real-world applications without the need for an exotic new technology platform – by leveraging existing semiconductor foundry processes to deliver quantum computing solutions that make artificial intelligence (AI) more efficient and sustainable. “
Equal1 addresses a major challenge for the quantum computing industry: increasing the number of qubits so that a quantum computer can solve useful and real problems. The company recently announced that it is the first to demonstrate a fully integrated Quantum Processing Unit (QPU) operating at 3.7 Kelvin, a major milestone with implications for the trajectory of quantum computing. The QPU has been integrated into a quantum computer demonstrator (“Alice”) and has been operating continuously for 18 months at the company’s sites in Ireland and the United States.
The company’s third-generation QPU chip was recently produced. This QPU includes the latest patented silicon qubit matrix as well as hybrid qubit test structures and high-speed input / output communication links used to bring high-speed data into the quantum core. With its QPU, Equal1 has developed disruptive, scalable and cost-effective quantum computing technology based on a commercially available silicon semiconductor process. This technology will allow the company to meet the huge demand for functional and affordable quantum computers and the company aims for a first generation production system within 24 months.
“We have supported Equal1 from the very beginning and have been impressed and excited with what the team has achieved to date,” notes Gerry Maguire, General Partner at Atlantic Bridge and member of the Equal1 Board of Directors. “With this new round of funding, we are confident the team can achieve their exciting goals of bringing technology to market.”
“This is a wonderful validation of our unique qubit technology and integrated approach, protected by a portfolio of over 30 patents,” said Dirk Leipold, Founder and CEO of Equal1. “The support of a new, highly skilled deep technology investor in btov, along with continued support from Atlantic Bridge, will enable us to accelerate our development of a useful QPU and realize our vision of democratizing quantum computing. ”
Equal1 recently appointed a world-class scientific advisory board and appointed Declan O’Mahoney, seasoned CEO of multi-exit technology, as non-executive chairman of its board.
Equal1’s quantum technology is particularly suited to quantum artificial intelligence (AI) and machine learning. AI is transforming all aspects of our lives, from autonomous vehicles to AI-designed drugs. However, the amount of energy required by these applications means that it is now a material and growing contributor to global carbon production and therefore to global warming. Equal1’s quantum computing technology will provide much better performance at a fraction of the energy.
With research and development teams in Dublin, Ireland and Silicon Valley, Equal1 was founded by Dr Dirk Leipold, Mike Asker and Professor R Bogdan Staszewski. It is a spin-off from University College Dublin School of Electrical and Electronic Engineering.
The investment is also supported by current investors 808 Ventures and Enterprise Ireland.
Equal1 leverages commercially available semiconductor technology to deliver quantum computing solutions that empower businesses to overcome today’s data-hungry AI challenges.
With its much smaller carbon footprint, our scalable and cost-effective technology provides a quantum computing pathway that will impact the trajectory of AI. This means that we enable our clients to harness the power of AI more effectively to develop useful, real-world solutions.
For more information, please visit us at equal1.com.
btov (@btovPartners) has been supporting outstanding European startups in non-obvious digital and industrial technologies since 2000. Our unfair advantage is the unique combination of our two dedicated teams at the Industrial and Digital Technology Fund and the strongest network in Europe entrepreneurial private investors. In this network of private investors, members not only have access to high quality investment opportunities, but also benefit from an exchange of know-how and intergenerational learning through think tanks, academies, study tours and digital formats. btov has actively supported semiconductor, photonics and quantum technology companies for over a decade https://btov.vc/industrial-tech-fund/.
About the Atlantic Bridge
Atlantic Bridge is a pan-European technology growth company with $ 1.2 billion in assets under management. Founded in 2004 by successful entrepreneurs and tech executives. With offices in Dublin, London, Munich, Paris and Palo Alto. Atlantic Bridge invests in high-tech sectors such as artificial intelligence, semiconductors, security, digital health and computer vision. With 8 funds under management, including two university funds, the company leverages its extensive operational experience and unmatched networks to help build high-tech companies into global market leaders in Europe, the United States and Asia. http://www.abven.com
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